Dollar hits 3-1/2 mth low vs yen on euro zone woes

TOKYO Wed May 30, 2012 8:20pm EDT

TOKYO May 31 (Reuters) - The dollar fell to its lowest level in 3-1/2 months against the yen on Thursday, as investors sought shelter from the euro zone storm in safe-haven yen debt, pushing the five-year Japanese government bond yield to its lowest since October 2010.

The dollar fell some 0.3 percent to as low as 78.86 yen , the lowest since mid-February. The five-year JGB yield dropped 1.5 basis points to 0.200 percent. The 10-year JGB futures contract rose 0.31 point to 143.74.

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